This case study looks at how McDonald's manages its stock through its management systems and what benefits this brings. .... used in France and Germany where it has reduced costs 3 Apr 2013 COBRA Inventory Management System McDonalds uses an Informat
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OPERATIONS MANUAL
QM-051
Section 5: Operating Procedures
Effective date:
Revision 00
Page 242
Title: Inventory Management
5.45
INVENTORY MANAGEMENT 5.45.1 OBJECTIVES 5.45.1.1
To conduct physical inventory of the Property, Plant & Equipment;
5.45.1.2
To verify that all inventoried items are in their respective location;
5.45.1.3
To determine the stock of the common office supplies.
and
5.45.2 SCOPE 5.45.2.1 This procedure defines the actions and responsibilities of Property Management in Inventory Management Procedure. This covers activities from conducting of Physical Inventory Counting pursuant to COA Rules to submitting of certified Inventory Report to COA and Accounting Services.
5.45.3 DEFINITION OF TERMS 5.45.3.1 ○ Property Card – it is an individual record of Property, Plant & Equipment that has its description, acquisition, transfer/disposal and other information about the asset. 5.45.3.2 Stock Card - A form that records the status and availability of common office supplies in the stockroom.
5.45.4 POLICY STATEMENTS 5.45.4.1 The following are the policies on Property, Plant & Equipment Inventory Management:
5.45.4.1.1
Conduct annual physical inventory of Property, Plant &
Equipment pursuant to COA Rules .
OPERATIONS MANUAL
QM-051
Section 5: Operating Procedures
Effective date:
Revision 00
Page 243
Title: Inventory Management 5.45.4.1.2
Prepare and update Inventory report to be reconciled
with the Accounting records. 5.45.4.1.3
Submit Inventory report certified by the Inventory
Committee to the COA and Accounting unit. 5.45.4.1.4
Determine which of the equipment are to be disposed.
Then proceed to proper disposal procedure pursuant to COA Rules and Regulations. 5.45.4.2 Management:
The following are the policies on Common Office Supplies Inventory
5.45.4.2.1
Conduct physical inventory of Common Office Supplies
every semester pursuant to COA Rules . 5.45.4.2.2
Prepare and update Inventory report to be reconciled
with the Accounting records. 5.45.4.2.3
Submit Inventory report certified by the Inventory
Committee to the COA and Accounting unit. 5.45.4.2.4
Determine which of the stocks are to be disposed then
proceed t proper disposal procedure pursuant to COA Rules and Regulations. 5.45.4.2.5
Determine which of the stock levels
are low then
proceed to the procuring procedure pursuant to the Provision on the Revised Implementing Rules and Regulations (IRR) of the Republic Act 9184.